Business

Aehr Test Systems (NASDAQ: AEHR) Net Sales Surged 102% in Q4 and Expects FY 2022 Net Sales to be 70%

Aehr Test Systems (NASDAQ: AEHR) has pronounced its financial results for the fiscal 2021 fourth quarter and all for the full year ended May 31, 2021. The net sales stood at $7.6 million, representing a 102% rise from the initial $3.8 million in the fourth quarter of fiscal 2020.

Financial reports

The company announced its GAAP net income as well, and that stood at about $567,000. In other words, it was a performance representing $0.02 per diluted share. It moved from a GAAP net loss of $2.9 million, translating to $0.13 per diluted share. In addition, there was about $1.9 million in restructuring and inventory charges. In other words, the fourth quarter of 2020 was associated with a figure of $0.08 per share.

The company’s Non-GAAP net income stood at $870,000, a figure that translates to $0.04 per diluted share. In addition, it announces the bookings represented by a figure of $5.5 million for the quarter. Thus, the performance was a 113% increase from $2.6 million in the fourth quarter of fiscal 2020.

Aehr Test Systems speaks about its backlog as of May 31, 2021, announcing it to be $1.6 million.

Fiscal year financial results

The company experienced net sales amounting to $16.6 million. It strikes in comparison to fiscal 2020, where it achieved $22.3 million.

It also announced a GAA GAAP net loss, and it was $2.0 million, which was a figure that included the impact of the $2.2 million non-cash net gain and the tax benefit of $215,000 linked to the closure of Aehr’s Japan subsidiary in the first quarter.

Erickson comments

President and CEO of Aehr Test Systems Gayn Erickson stated, “We are pleased to report improved revenue and operating profit in the fiscal fourth quarter that reflect a return to above pre-pandemic levels. We are also encouraged by the strong increase in customer demand during the quarter, which is a positive turnaround from customer production ramp delays and push outs we experienced this past year related to COVID-19.”

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